PoP Income Statement – March 2013

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Kitty PoP’s new favorite place to hide when strangers are in the house

Welcome to our March 2013 Income Statement!

Mr. Pop and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.

As I mentioned in our February Income Statement, we had even more guests in March, along with me (Mrs. PoP being out of town for a long weekend). So staying within our food spending budget was more of a struggle this month, but somehow we managed to be within $7 of the $800 we’re aiming for on a monthly basis. I’m calling that a huge win for still being able to treat friends and loved ones when they were in town or when I was out of town visiting them.

It was another baseline month income-wise, with the exception being our tax refund. It was around $500, but isn’t that big of a win since we’ll be paying it out in April to pay the tax preparer.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $3,864.

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $6,134
  • Rental Income: $1,500
  • Miscellaneous Income (rebates, reimbursements, etc.): $573
  • Total Income: $8,207

Expenditures

  • Groceries: $458
  • Eating Out: $349
  • Total Food: $807
  • Mortgage: $1,167
  • Home Maintenance and Repairs: $215
  • Total Home: $1,382
  • Gas: $433
  • Auto Repairs / Maintenance: $0
  • Total Transportation: $433
  • Bills/Utilities for Primary Residence: $385
  • Bills/Utilities for Investment Properties: $41
  • Total Bills / Utilities: $426
  • Interest Payments on Non-Mortgage Debt: $0
  • Car Loan Payments: $0
  • Total Interest / Car Loan Payments: $0 Yay!
  • General Shopping: $545 – This is pretty much 3 big purchases made this month: a stockpile of running shoes to last a year, a 10-year rental of our domain name, and a $200 part for the amp that Mr. PoP is working on instead of that $2K amp we wrote about a few of months ago! Since these are non-recurring splurges, hopefully they keep us entertained and entertainment expenses down for a while to come…
  • Pet Supplies / Care: $0
  • Total Shopping: $545
  • Gym / Fitness: $73
  • Medical Treatment/Visit: $49
  • Media Subscriptions: $8
  • Media Non-Subscription: $3
  • Total Health/Fitness/Entertainment: $133
  • Travel: $617
  • Roth IRA Buy-In For 2012: $10,000 – $10,000 already set aside = $0
  • Total Miscellaneous: $617
  • Total “Everyday Expenditures”: $4,343
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,207 – $4,343 = $3,864

Principal Paydowns / Savings Allocations

  • Holding Account to Pay Tax Preparer: $500
  • Transfer to IRA Holding Account: $1,000
  • Transfer to Savings for Personal Loan Payoff: $2,300
  • Total Principal Paydowns / Savings Allocations: $3,800

Net Income = EBPPS – (Principal Paydowns + Savings Allocations)

  • $3,864 – $3,800 = $64 = Net Income

Cash accounts decreased again this month as we dropped $10K into our Roth IRAs to fund our 2012 contributions. $3,264 came in as net cash post expenses, but we invested $10K, so the net decrease to the cash position works out to -$6,136.  We’re also in the process of moving money around as we’re giving Ally a shot to be the holder of our cash hoard that we’re building in anticipation of paying Mr. PoP’s parents off ASAP. We’ll talk about the moves that we’re making there in another post.

How’s your income statement looking this month? Did you have any entertainment splurges like my running shoes or Mr. PoP’s amp part? How’s your spending lining up with your values?

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